Edmonton Real Estate Blog

Hello everyone,

I am back from the holiday from hell and ready to get back to work.  By the way just a hint never loose your wallet with all your bank cards and credit cards in China.

I see that since I have been gone the market has really stabilized.  As of this afternoon there are 1,409 single family homes listed in Edmonton proper.  That is a slight drop from it was before I left on my holiday.  However the number that has dropped the most significantly is the number of sales which dropped to 326 in the last 30 days.

That would give us a listing to sales ratio of 4.32:1 the highest ratio that we have seen in almost a year.  Normally with that kind of ratio I would expect a downward pressure on house valuations.  However we do have to take into considertation the time of year we are in right now.

If this number doesn’t improve by the middle of February then I will start to get concern about valuations dropping.  But with the the threat of interest rates going up this year I think that we will start seeing people come off the fence and start buying again.

So lets see what the numbers start to look like by the middle of February before we get excited one way or another.

Who doesn’t need more storage space in their home? From closets and attics to kitchens and laundry rooms, we’ll show you some innovative storage ideas that can help eliminate the clutter around your home. So what are you waiting for? It’s time to get busy cleaning up that mess!

Closets

Closets are the first place to look when improving storage in your home. Replacing old hanging rods and shelves with adjustable metal shelving and wire baskets should be high on your priority list. It’s not that hard to do, and can make a great DIY project.

Here’s how to go about it:

• Start by cleaning everything out of the closet.
• Remove the old shelf and rod.
• Locate the wall studs and mark their position.
• Secure the horizontal track to the studs on the back wall near the top of the closet.
• Hang the vertical supports on the track and secure them to the wall.
• Cut the wire shelves to length with a hacksaw or reciprocating saw.
• Attach shelf supports to the vertical supports.
• Install hanging rods, shelves, and baskets.

Under Bed

A lot of good storage space can be found under your bed. To access the stored items, build one or more large open boxes that fit under your bed from plywood or medium density fiberboard (MDF).

 Install casters to the bottom of the box and a handle on the front to allow it to easily roll in and out.

Laundry Room

Your laundry room is another area of the house that can usually benefit from some serious organization. Some ideas for laundry room storage include:

• Add a store bought or built-in storage unit that has been sized to hold an individual laundry basket for each member of the family.
• Install shelving on your laundry room walls above the washer/dryer as well as along the area near the ceiling to store cleaning supplies and detergent, as well as tools and other items.
• A great DIY project that can make your laundry room more functional is to install a built-in ironing board, complete with an electrical outlet and storage for your iron, into the laundry room wall.

Attic

Attics are a great place to store items that aren’t damaged by extreme temperatures. To increase the storage space in your attic, consider building hanging shelves that are attached to the rafters.

Here’s how to go about it:

• Determine the pitch of your roof and the width you want your shelves.
• Using these measurements, build “L” shaped brackets cut from 2″x 4″ lumber to support the shelves.
• Use a chalk line to mark the position of the brackets on the rafters.
• Attach the brackets to the rafters with screws, making sure the shelf support is level.
• Slide 1″ thick shelving onto the brackets.

Kitchen

There are a number of ways, from lazy susans to sliding bins, to increase storage space in your kitchen. One simple way to free up a drawer and make the lids to your pots more accessible is to mount a bathroom towel rack to the inside of a cabinet door. Here’s how to go about it:

• Start by attaching one of the towel rack brackets to the cabinet door stile at the proper height.
• Next, hold the other bracket in place and measure the length of the towel rod.
• Cut the towel rod to length with a hacksaw.
• Insert the towel rod in the two brackets and screw the second bracket to door.
• Place lids on the towel rack with the handles facing out.

Bookcase

A DIY built-in bookcase in your living room or den makes the perfect place to store books or display memorabilia and photographs. Store bought models are also available.

To build a bookcase:

• Start by making a cutting list and cutting the stock (plywood, MDF, or solid wood) to size for the bookcase and shelves.
• Assemble the bookcase.
• Construct a separate recessed base below the bookcase.
• Assemble the bookcase and base.
• Attach a frame to the front of the bookcase.
• Prime and paint or stain and finish the bookcase and base.
• Install bookcase in room.

Bathroom

Bathrooms can always use some added storage space. There are a number of options available, including:

• Build or buy a shallow hanging cabinet to attach to the wall above the toilet for storing towels, soap, and toilet paper.
• Add a built-in window seat or a freestanding chest in your bathroom to serve as a place for clothes and to sit when dressing, as well as for storage space inside.
• Install a built-in, recessed medicine cabinet, such as Nutone’s locking bath cabinet on the wall above the sink in the space between two studs.

Charging Station

A recessed wall cabinet with an electrical outlet mounted inside is the perfect place to keep cell phones, iPods, and MP3 players while they’re charging. It also doubles as a convenient place to hang your keys.

 by Danny Lipford

These simple do-it-yourself projects that can make a big difference, without taking too much out of your wallet.

Think spending $50,000 on a total kitchen remodel or $10,000 overhauling the bathroom is the only way to add value to a home? If large, expensive projects are beyond your grasp, you’re in luck: Increasing the value of your home doesn’t have to involve large outlays of cash, especially when you’re willing to put in a little sweat equity. Why spend big money when there are so many low-cost, do-it-yourself (DIY) projects? Whether you’re planning on selling or just want a nicer place to live, read on to find out what you can do to add value to your home for as little as a few dollars. (To read more about home improvements, see Fix It And Flip It: The Value of Remodeling.)

House-Wide Updates

The following are some changes that can be undertaken for surprisingly little money.

Freshen Up the Walls
If your walls have scratches and dirty paint, an outdated color or tacky wallpaper, a few cans of paint can make a dramatic difference. If you’re trying to maximize the value of your home, it’s best to choose a neutral color scheme that unifies the entire house, makes the space look bigger and will appeal to a wide variety of potential buyers.

Install Crown Molding
This task is surprisingly simple but adds a lot of character. You simply buy the molding, which is nothing more than decorative strips of wood from a home improvement store, cut it to the size that fits your room (or have the store cut it for you), and attach it to the top of the wall with a nail gun. It may even come already painted. This involves a bit of woodworking skill as well as the right tools, but is very inexpensive if you can do it yourself.

Update Fixtures
Switch plates, outlet covers, curtain rods, light fixtures and doorknobs are often boring or overlooked, but a few bucks can add major pizzazz. Attractive metal switch plates and outlet covers can cost as little as $5 apiece but look much more expensive. Light fixtures and decorative curtain rods can be a little pricier, but sometimes you can make an inexpensive piece look elegant with the right can of spray paint. Again, make sure to choose items in colors and finishes that will appeal to a wide audience.

Install Ceiling Fans
Everyone likes to save money on electricity bills, making ceiling fans an appealing addition to any home. Using ceiling fans can definitely cut down on air conditioning costs, and in fact, they can also reduce heating costs by circulating warm air away from the ceiling. A basic fan costs about $50, and a nice one can be had for no more than a couple hundred dollars. If you don’t already have overhead lighting in the room or rooms you want to install fans in, the electrical work needed to install them can significantly escalate the cost of this project as well as take it out of the DIY realm.

Improve Window Treatments
The cheap vertical plastic blinds, paper shades, or horizontal aluminum blinds that may have come with your house definitely don’t add any value to your home. Consider replacing them with plantation shutters, wooden blinds or nice drapes. By the way, it doesn’t matter whether the drapes will come with the house if you are in the market as a seller. The important thing is that they make it look nice while it’s on the market and help you get top dollar for your home.

Reveal and Restore Hardwood Floors
Older homes in particular are likely to have hardwood floors lurking beneath carpet. If your floor squeaks, that’s a decent sign that you may have wood floors. If you’re not sure, pull up your carpet in an unnoticeable corner and investigate. If you do have wood floors, there’s a good chance you’ll have to refinish them to restore them to their original splendor, but that will be much less expensive than installing new flooring from scratch.

Bathroom

Redo the Bathroom Floor
Many people can learn how to do this task themselves with a simple class (your local home improvement store may offer one). Because installation makes up a major part of the cost of most home improvements, saving all that money on labor may allow you to pick nicer flooring than you could otherwise afford. Opting for a neutral-colored tile will add the most value.

Update Fixtures
If you have generic, cheap and/or outdated fixtures, replacing them with newer, more customized versions can make your bathroom sparkle. For about $40-$100, you can replace a shabby bathroom vanity or ceiling light fixture with something elegant. A similar cash outlay will get you a new sink faucet. A spa-style chrome shower head adds a touch of luxury for about $80. Towel bars are the easiest and cheapest fix at about $20-30. Sometimes the upgrade can even be more energy efficient, increasing not only the aesthetics of your home but “greening” it up as well. (For more on saving energy, read Ten Ways To Save Energy And Money.)

Kitchen

Paint or Stain Kitchen Cabinets
You could buy all new cabinets and save money by purchasing prefabricated (rather than custom) cabinets and installing them yourself, but that’s more work and money than painting or staining your existing cabinets. White cabinets will brighten the room, don’t usually go out of style and are easy for future owners to repaint if they want something different. You’ll need to remove all the hardware from your cabinets, including removing the doors. You’ll also need to clean the cabinets first so that residue like grease won’t ruin your work. This renovation can be used to spruce up your bathroom cabinets as well.

Upgrade Cabinet Knobs and Drawer Handles
It’s surprising how a seemly innocuous element like a cabinet door knob can make your kitchen look cheap or dated. Updating this hardware can give your kitchen a face lift whether you redo your cabinets or not.

Living Room

Clean Fireplace Brick
If you have a brick fireplace and it’s ever been used, chances are some of the brick is stained with soot and creosote. Because a nice fireplace can be a major selling point in a home, you’ll want to make yours look as nice as possible. Just use a damp rag to wipe away some of the soot, then follow up with a fireplace cleaner designed to remove creosote. It will take some scrubbing with a stiff brush and possibly several applications, but you’ll have that brick looking spiffy when you’re finished.

Don’t Forget the Exterior

It may be easy for you to ignore your home’s exterior when you spend most of your time inside, but it’s the first and sometimes only impression that others get of your house. Here are a few simple ways to make it look its best.

Install a New Front Door
A very basic steel front door costs about $100, but for just another $100-$200, you can get a door with a lot more character that will improve your home’s curb appeal. If you can’t afford a new door, a fresh coat of paint in an inviting color may be all you need.

Replace the Front Door Mat
When you’ve had the same doormat for years, it can be easy to overlook how worn out or dirty it’s become, but it’s one of the first impressions people get of your home. This is one area where $20 can make a big difference.

Gutters
This is more an issue of maintaining your home’s value than increasing it, but it’s extremely important. Without properly functioning gutters, which are designed to carry water away from your home, rain may seep into your home or pool around it, causing problems like mold and mildew and eventually compromising the house’s structural integrity, leading to very expensive repair bills.

Power wash the Exterior of Your Home
For less time and money, a good washing can make your home’s exterior look almost as good as a fresh coat of paint.

Repaint the Exterior
If washing the exterior of your home didn’t brighten it up as much as you’d hoped, consider a new paint job. With the ladders and heights involved, this may not be a DIY task for everyone, but even if you have to hire others to do this job, it’s still pretty inexpensive as far as home improvements go and can make your house look almost new from the outside.

Power wash the Driveway, Walkways and Patio
As long as you’re renting the power washer, you might as well clean your driveway, your patio, and any walkways. You may be surprised by how new they’ll look afterward.

Upgrade Landscaping or Clean Up Existing Landscaping
Flowers and other plants are a great way to brighten your home’s exterior. Use greenery in front of your house and/or along walkways to draw attention to your house. To get the most for your buck, choose perennial plants, or ones that will come back year after year, rather than annuals, which will die in a year or less and not return. Patch any bald spots in the yard with fresh sod and trim existing trees and bushes to complete the yard’s new look.

Put on Your Tool belt
Upgrading your home doesn’t have to be expensive or difficult and it doesn’t have to involve contractors. There are a variety of projects for all price ranges and all levels of skill and enthusiasm that can improve your home’s value, whether to future buyers or, perhaps more importantly, to you. Putting a few of these home-improvement ideas into action will help you get the most value out of one of your biggest assets whether you’re staying in it or selling.

Amy Fontinelle  Investopedia.com

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Well I think the fall market place is definitely here.  There has been an increase in the number of single family homes for sale in Edmonton proper from 1,930 homes to 1,951 this week.  The slight increase in available homes for sale is probably due to the reduction in the number of sales in the last 30 days from 683 to 652.

With those kinds of numbers we would have a listing to sales ratio of 2.99:1 and increase from last week at 2.83:1.  This indicates to me that we are going to be seeing less upward pressure on valuations, possibly even a leveling off.  We are going to have to watch this ratio closely as if continues to rise we might even see downward pressure on valuations.